YOUBIQUITY FINANCE RETAIL BANKING SUMMARY.

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1 YOUBIQUITY FINANCE - RETAIL BANKING SUMMARY. Consumers want banks to make digital self-service easier, using support technologies that build customer confidence and better relationships. Avaya Inc. All rights reserved

2 CONSUMERS WANT MORE ADVICE AND FASTER PROCESSES TO BUILD CONFIDENCE IN BANKING FURTHER Consumer confidence in banks recovering I have a strong relationship with my bank % 29% 40% 43% 59% 74% increase in consumers saying my bank puts its customers at the heart of its business (19% 2014 to 33% in ) But consumers are looking for better processes and guidance I would consider buying insurance and pension products from my bank 51% definitely want more staff who can provide advice on banking and insurance products It s difficult to get independent advice you can trust about financial services 41% 35% 45% 41% 61% 47% Process of opening accounts in banking and insurance takes too long 44% 53% 40% I have had a cup of tea or coffee in my bank branch 22% 15% % 12% % Would like instant update from your bank (by text, phone, push notification or ) when tie-in period is coming to an end % 72% % 78% German y 70% % Source: BT Global Services/Avaya/Davies Hickman Partners,. Avaya Inc. All rights reserved 2

3 SUPPORTED SELF-SERVICE REQUIRED TO ENABLE DIGITAL FINANCE TO SUCCEED Consumers want much more support for more complicated digital self-service, particularly consumers in Consumers frustrated by online processes 1 in 3 first try to complete complicated transactions online* But many of these online interactions - fail need support take too many attempts When you are on a bank s web-site, if you need help, how interested would you be in the following? 85% Phone 85% 83% Branch 62% Web-chat I would be more confident buying a new product via web-chat than with no human interaction 23% 40% 23% % 42% I was satisfied with the outcome of my last web chat with my bank Want web-chat option when on financial providers website if need help % 31% 72% 59% 48% German y % Want Smartphone banking Apps which make it easy to , chat or call staff 45% 66% 81% 74% Want Visual IVR on your smartphone 59% 71% 77% 69% - 62% - 64% 2014 Contacting your bank via social media Would recommend social media service to friends/family % 19% 17% 19% 21% I was satisfied with the outcome of my contact 32% 20% 18% 26% 32% Source: BT Global Services/Avaya/Davies Hickman Partners,. Avaya Inc. All rights reserved 3

4 PHONE AND NOW VIDEO VALUED FOR OVERCOMING THE GUIDANCE AND ADVICE GAP Person to person contact builds remote relationships, with Spanish and consumers most video positive 100% 90% 80% Would rather phone than use web-site FAQs 100% 90% 80% Min. 3x increase between 2012 to in consumers wanting video-chat when need help ( 49% 36%, 65% and 40%) Video-chat to financial providers would build my confidence - I could see what the agent was doing 63% Advantages of video conferencing with financial service providers (Definitely or possibly) 77% Wouldn t need to make an appointment 74% 71% 62% 70% 70% % The adviser would be more engaged in our conversation 60% 60% 68% 64% % 55% % 46% Source: BT Global Services/Avaya/Davies Hickman Partners,. Avaya Inc. All rights reserved 4

5 BUILDING REMOTE RELATIONSHIPS IS THE NEW CHALLENGE FOR BANKS Nearly 2 in 3 Germans positive about voice biometrics slightly less than those in and the Data driving customer ease Would like voice biometrics which identifies you when you call your bank Technology in branch can help % 63% 77% 73% 64% Would you be interested in? Ability to book appointments with advisors online (as per Apple store) Definitely 36% Possibly 39% 75% Bank branches that can issue new debit/credit cards immediately in person Really add value 38% Useful 46% 84% Bank staff know from your phone that you are about to enter the branch so they can tailor service 49% If you could use your social media ID to log into your banking account online 76% Fingerprint recognition to make payments or identify yourself on a smartphone, PC or other device Def. 13% Possibly 37% A remote cheque deposit option take a photo on your smartphone to deposit (no need to post) Definitely 25% Possibly 42% 67% Receiving advice about your finances in a personalised video message from your provider 31% 60% 70% - 54% % Want free access to Wi-Fi (definitely 42%, possibly 39%) 63% Want ipads so you can research products with branch staff Source: BT Global Services/Avaya/Davies Hickman Partners,. Avaya Inc. All rights reserved 5

6 Digitally advanced THE YOUBIQUITY FINANCE SEGMENTATION - CONSUMERS WANT DIFFERENT CHANNEL STRATEGIES Using statistical analysis to understand the needs of 4 different types of consumers Digital-led Remotes 30% 31% 34% Digital-ready Actives 12% 32% 21% Age - Youngest age group. Under 35s - 45% (30% average) Gender - Men 47%, Women 53% Income - Slightly higher. 19% earn over 50k Use a new channel strategy - Need to create customer engagement - Biggest users of web-chat and social media to contact banks and insurance providers - Less use of voice and face to face - Offer advice and information as least confident in making financial decisions - Very confident with digital technologies Age Average age group. Under 35s - 32% (30% average) Gender Men 47%, Women 53% Income Slightly lower. 16% earn over 50K Build on existing relationship strengths Beta test innovations - Best relationship with their banks and insurance providers, willing to adopt innovations - Change channels most often, want free Wi-Fi in branch, use digital options and want video-chat - More loyal, engaged and active but will negotiate on price - Very confident with digital technologies Digital-adapting Independents 13% 27% 28% Digital-indifferent Traditionalists 57% 23% 40% Age Most middle-aged group. Aged 35 to 54 45% (37% average) Gender Men 49%, Women 51% Income - Slightly higher. 21% earn over 50K Develop win-back channel strategies - re-build loyalty - Generally less happy with providers than the other segments - Willing to use new technology if it gives access to better products and services - Think providers should improve service levels 24 hour call centres - Will switch providers if dissatisfied Age Oldest age group. Over 55s - 46% (33% average) Gender Men 54%, Women 46% Income Slightly lower. 13% earn over 13K Maintain traditional channels be consistent - Have good relationship with banks, expect providers to market products to them - Rely on face to face and the phone - Need support from providers to use newer channels - Less likely to want guidance but more loyal to providers Loyal to providers Avaya Inc. All rights reserved 6

7 YOUBIQUITY FINANCE - METHODOLOGY AND ENGAGEMENT OPTIONS Survey of 3,015 consumers Objectives Identify needs for BT and Avaya s services by understanding changes in consumer contact behaviour between 2012 to Compare and contrast behaviours across the, and Methodology The research was completed independently by Davies Hickman Partners a. In 2012 a survey of 2,500 consumers was completed in the, US, and b. In 2014 a survey of 2,000 consumers was completed in the, France and Next steps - Engagement options Full report, Infographic and Videos available at Customer workshops available from Ian Carter, Head of Marketing, Global Banking and Financial Markets, BT - ian.p.carter@bt.com and Ross White, Head of Channel Marketing, Avaya - rosswhite@avaya.com Respondent gender Female Respondent age % % % % Male % 1,000 consumers in each of, and the Avaya Inc. All rights reserved 7

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